Image: Michael Pointner, Unsplash
Singapore located Hexa Renewables and Japanese conglomerate Marubeni have entered into a strategic partnership to develop up to 100 MW Solar Japan.
Marubeni said that at the end of 2028 it is planning to purchase and sell about 1,000 non-feed-in Tariff (non-fit) sun plants to Hexa.
Hexa will manage the assets and corporate Power Purchase Agreements (CPPA). Marubeni added that her entire subsidiary, Marubeni Power Retail, is expected to have a priority for CPPA negotiations.
Hexa Renewables Group Commercial Chief Officer Vince Choi said that the partnership will support the objectives of the renewable energy grant of Japan.
The Japanese government has recently approved its seventh strategic energy plan, with the aim of reducing the emissions of greenhouse gases by 73% by 2040 and reach carbon neutrality by 2050.
Marubeni said that the Japanese Ministry of Economy, Trade and Industry is planning to increase the share of Renewable Energy in the energy mix to 40% -50% by 2040, with solar energy that becomes the largest power source.
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